HSBC slashes AMC on index trackers

HSBC Global Asset Management is cutting the annual management charge across its UK-based index track...

HSBC Global Asset Management is cutting the annual management charge across its UK-based index tracking fund range to 0.25%. The new charging structure, which takes effect on 1 September, affects seven funds which previously had fees ranging from 0.5% to 1%, and is applicable to both new and existing investors. There is no initial charge. HSBC says it has worked with the major fund supermarket platforms to ensure savings are passed on to advisers, and hopes the absence of commission will make the revamped range appealing to the growing base of fee-based advisers. "We see these lower-c...